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Case Status:    DISMISSED    
On or around 03/22/2018 (Court's order of dismissal)

Filing Date: March 08, 2018

magicJack VocalTec, Ltd. (“magicJack”) is a Voice over IP (VOIP) cloud-based communications company.

According to the Complaint, on November 9, 2017, magicJack and B. Riley Financial Inc. ("B. Riley") jointly announced that they had entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, B. Riley, and B. R. Acquisition Ltd., an Israeli corporation and wholly owned subsidiary of B. Riley.

The Complaint alleges that on February 8, 2018, in order to convince magicJack stockholders to vote in favor
of the Proposed Transaction, Defendants authorized the filing of a materially incomplete and misleading Definitive Proxy Statement on a Schedule 14A (the “Proxy Statement”) with the SEC, in violation of Sections 14(a) and 20(a) of the Exchange Act. The Complaint alleges that, specifically, the Proxy Statement contains materially incomplete and misleading information concerning: (i) the Company’s financial projections; (ii) the financial analyses performed by the Company’s financial advisor, BofA Merrill Lynch, in support of its fairness opinion; and (iii) the background process leading up to the Merger Agreement.

This case was voluntarily dismissed as moot on March 21, 2018.


Sector: Services
Industry: Communications Services
Headquarters: Israel


Ticker Symbol: CALL
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Florida
DOCKET #: 18-CV-80297
JUDGE: Hon. Donald M. Middlebrooks
DATE FILED: 03/08/2018
CLASS PERIOD END: 03/08/2018
  1. Monteverde & Associates PC
  2. Shepherd, Finkelman, Miller & Shah, LLC (Ft. Lauderdale)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available